Pasadena Private Wealth LLC Buys 1,524 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pasadena Private Wealth LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 23.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,012 shares of the computer hardware maker’s stock after acquiring an additional 1,524 shares during the period. Pasadena Private Wealth LLC’s holdings in NVIDIA were worth $1,076,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. purchased a new stake in NVIDIA in the fourth quarter valued at about $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at about $40,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. grew its position in NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,109 shares of company stock valued at $22,117,015. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Mizuho reduced their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Up 3.2 %

NVDA stock opened at $121.41 on Tuesday. The business’s 50-day moving average is $126.68 and its 200 day moving average is $131.46. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.